The costs involved of hiring IGF for factoring our invoices are significantly below the cost of appointing an in-house credit controller. It has also taken away the worry of managing a finance function which entails holiday pay, time off sick and so on, let alone taking up important space in our offices. 
Electus Recruitment Solutions
Electus Recruitment Solutions is an independent UK technical recruitment consultancy providing resourcing solutions for permanent and contract staff within the defence, aerospace, aviation and engineering industries. Based in Bournemouth, the company has been trading since 2003 and is known for delivering specialist, niche services to these sectors. As fast-growing company, Electus’s 20 employees have a strong engineering and recruitment background and an excellent understanding of the key markets they serve.
The Challenge
Electus needed a finance solution to improve the company’s cashflow and allow the business to enter the competitive market for high-value contractors in the sectors it specialises in.
In order to source a flexible and competitive financing solution, Electus sought a commercial finance company with a good reputation, and one which had experience of working for smaller businesses. Electus contacted IGF, one of the leading independent commercial finance companies in the UK, after seeing an article entitled “Which Factor?” in a recruitment magazine and quickly determined that IGF’s factoring facility was competitively priced and suited to what it was looking for.
Client Manager Kristina Brennan at IGF explains:
“Most growth businesses like Electus Recruitment turn to us because traditional banking routes will not give them the flexible financial help they need to kick-start their businesses and move on to the next level.”
“IGF has a lot of experience in working with smaller clients and understand the changing needs of smaller firms. We also understand the particular needs of the recruitment industry, so we’re well-suited to assisting Electus.”
The IGF Solution
IGF’s understanding and experience of the issues for Electus Recruitment – both long and short term – was key to the decision to choose IGF as its finance partner. IGF tailored the most flexible and cost-effective package to meet the company’s business and cashflow aims.
Results
The IGF and Electus partnership has been going strong for four years since Electus launched in 2003. Via its factoring services, IGF has successfully smoothed out Electus’s cashflow peaks and troughs, helping Electus to become a known specialist and provider in its own field.
Mark Day, Operations Director at Electus Recruitment Solution Ltd, said:
“We have always been happy with the service and flexibility that IGF offers Electus. Unlike other suppliers, it’s nice to have a company which allows you to get on running your business while being sure that the financial side of things is being professionally taken care of.”
He concludes:
“With competitive rates and great service, our partnership with IGF is one we hope to continue.”
Benefits experienced by Electus Recruitment Solutions through IGF services:
- Factoring facility
- Debt Tracking
- Ease of contact
- Service with a personal touch
- Cost-effective finance
- Tailored service developed in line with Electus Recruitment’s business needs and goals